news

25 June 2013

Sonendo completes second round totaling $27 million

Sonendo (Laguna Hills, California), the maker of technology for the endodontic marketplace, has completed the second of two equity financings originally announced last year, raising an additional $18 million for a total of $27 million. The proceeds from the financing will be used to finalize technology development, fund ongoing clinical studies and commercialize Sonendo’s Multisonic Ultracleaning System, set to launch in 2014.

The round was led by OrbiMed Advisors, with new investor Themes Investment Partners joining Fjord Ventures and NeoMed Management to form the investor syndicate. “Our goal is to transform endodontics by improving the clinical quality and business performance of practices performing root canal therapy,” said Bjarne Bergheim, president/CEO of Sonendo. “Sonendo has designed a breakthrough endodontic technology based upon Sound Science, which will enable root canals to be simultaneously cleaned in about five minutes.”

Sonendo’s system is not yet commercially available. OrbiMed Advisors is a healthcare-dedicated fund manager. Themes Investment Partners is a China-focused private equity fund. Fjord Ventures Management is a lifescience focused technology accelerator. NeoMed Management is an international investment firm, exclusively focusing on the healthcare industry. Sonendo says it aims to dramatically improve the current standard of care in endodontics by providing a faster, easier and better procedural result.